Australia's zero import duty access to India, which was earlier 5 per cent, will provide a level-playing field with exports from China, Vietnam and Bangladesh, the Ratings agency said on Thursday.
During the bilaterals held in New Delhi between EAM Jaishankar and German Foreign Minister Annalena Baerbock, the two sides welcomed the resumption of negotiations on the India-European Union (EU) Free Trade Agreement, Investment Protection Agreement and the Agreement on Geographical Indi
India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) will enter into force on December 29 paving the way for the elimination of duties on 100 per cent tariff lines and creating additional 10 lakh jobs in India.
This announcement comes a week after Australian Prime Minister Anthony Albanese said that country's Free Trade Agreement (FTA) with India has passed through its Parliament.
Australia is an important strategic partner of India and both democracies are part of the four-nation QUAD, Trilateral Supply Chain Initiative and the Indo-Pacific Economic Forum (IPEF), according to a Commerce Ministry statement.
While addressing the Joint Press conference, Union Minister said, "We've agreed to pursue Free Trade Agreement between India and Gulf Cooperation Council (GCC) and conclude it at the earliest. GCC is already India's largest trading partner. GCC countries contribute almost 35 per cent of I
Mumbai (Maharashtra) [India], November 24 (ANI/ IMC): The first Moscow Interior and Design Week, which took place recently in the Russia capital saw overwhelming participation by global and Indian companies.
The Confederation of Indian Alcoholic Beverage Companies welcomed the ratification of the India-Australia FTA by the Australian Parliament and said this would take the trade ties between the two nations to newer heights.
The deal which was signed on April 2, 2022, is now ready for ratification for its early implementation. The Agreement will enter into force shortly, on a mutually convenient date once both sides have completed their domestic processes.
FICCI said achieving USD 100 billion targets of bilateral trade and investment is within the reach and it is the responsibility of businesses from both sides to achieve it by 2030.
After the announcement of the passing of the Australia-India Economic Cooperation and Trade Agreement from both houses, Australian Prime Minister Anthony Albanese said that the new trade agreements with India and the UK will strengthen the existing trade and economic relationships.